The Uganda Retirement Benefits Regulatory Authority (URBRA) has identified three key priority areas following its participation in the 7th Annual Africa Pension Supervisors Association (APSA) Conference held in Accra, Ghana, July 29–31, 2026.
URBRA will prioritize the development of an ESG Integration Roadmap and capacity-building initiatives; leverage its ongoing study on alternative investments to strengthen governance, valuation practices, and trustee capabilities; and map decision-useful ESG and governance indicators into its risk profiling and supervisory technology systems.
These actions are being prioritized because they directly address the most pressing challenges facing African pension systems: limited coverage outside formal employment, retirement-income adequacy concerns, concentration of pension portfolios in conventional assets, and the need for more data-led supervision. The conference reinforced that pension reform must preserve the central regulatory objective—secure, well-governed retirement benefits delivered through systems that are credible, investable, and capable of being supervised.
Key takeaways from the conference emphasized that digital access alone is insufficient for pension inclusion; sustained member participation requires contribution flexibility, trust, and credible payout arrangements. On investment diversification, the conference highlighted that alternative assets require suitable vehicles, robust governance, independent valuation, and liquidity planning.
Regarding ESG integration, the regulatory approach should emphasize financial materiality and fiduciary capacity, with governance and data quality preceding mere compliance reporting. The conference also underscored that risk-based supervision and technology should be designed around scalability, data accuracy, and the specific decisions supervisors need to make.
URBRA was represented by Board Chairman Mr. Henry Balwanyi Magino; Board Members Ms. Florence N. Kuteesa and Mr. Moses Zziwa; Chief Executive Officer Mr. Martin Anthony Nsubuga; Chief Manager of Research and Strategy Mr. Benjamin K. Mukiibi; and Risk and Investment Analyst Mr. Eric A. Mugisha. The cross-functional representation ensured that both policy judgment and practical supervisory implementation were adequately addressed.